The European Stability Mechanism (ESM)
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The head of the European Stability Mechanism (ESM), Klaus Regling, has left open the prospect of Greece not lowering its tax-free threshold as it agreed to with creditors, but Regling also signaled that the incoming Greek government's aim of lowering of primary surplus targets is at the moment hardly a sure thing.
President Klaus Iohannis participated on Thursday and Friday in the meeting of the European Council in Brussels, context in which he presented the results of the Romanian Presidency at the EU Council and reconfirmed Romania's firm support for the Eastern Partnership.
The European Stability Mechanism (ESM), Greece's chief creditor, in a regular report on the Greek economy has warned Athens to fully implement all reforms agreed to in the bailout memorandums, including a 3.5 percent of GDP primary surplus until 2022.
The report coincides with the Bank of Greece's announcement that it projects a 2.9 percent primary surplus for 2019.
Greece has made big progress in restoring sustainability to its public finances, strengthening the banking sector's resilience, and improving the economy's competitiveness last year but it needs to remain on track and adopt more growth-oriented policies, the European Stability Mechanism (ESM) said in its annual country report on Thursday.
Representatives of eurozone member-states in the EuroWorking Group (EWG) on Thursday have approved Greece's request to repay earlier a portion of the bailout loans it has received from the International Monetary Fund (IMF), according to Greek finance ministry sources.
The government had sent the proposal to the EWG and the European Stability Mechanism (ESM) last week.
Greece submitted an official request to the eurozone bailout fund on Monday, seeking its consent for the early repayment of loans owed to the International Monetary Fund (IMF), a Greek finance ministry official said.
The Greek government sent a request to the European Stability Mechanism (ESM) for the repayment of part of its IMF loans, the official said.
Repaying earlier expensive International Monetary Fund loans is a significant step for Greece which will create favorable conditions for its economy, Prime Minister Alexis Tsipras on Monday, promising more relief measures.
"We are gaining points of [economic] freedom," Tsipras said during an interview with Greece's Antenna television.